Sunnyvale, Calif. - AMD announced that its board of directors has appointed Rory P. Read president and CEO, effective Aug. 25.

Read, who was most recently president and COO of Lenovo Group, was also appointed to the board of directors.  

Prior to Lenovo, Read reportedly spent 23 years at IBM, in a variety of management positions.

 In a statement, Read said, "I'm very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond."

Thomas Seifert, who has served as interim CEO since January, will return as senior VP and chief financial officer.